Learn More - Click Here!

New Reply Thread Options
#2186468 - 07/23/18 05:13 PM Holding a Cashier's Checks
Anonymous
Unregistered

In what cases can a bank place a hold on a cashier's check?

Return to Top Reply Quote Quick Reply Quick Quote
#2186487 - 07/23/18 06:05 PM Re: Holding a Cashier's Checks Anonymous
RockChucker, CAMS Offline
Diamond Poster
Joined: Jul 2013
Posts: 1,644
The Country
You can place a hold on amounts over $5,000. For example, if you have a deposit for $8,000 in the form of a CC, you can put a hold on the $3,000.
_________________________
A successful man is one who can lay a firm foundation with the bricks others have thrown at him.
-David Brinkley

Return to Top Reply Quote Quick Reply Quick Quote
#2186576 - 07/24/18 01:31 PM Re: Holding a Cashier's Checks Anonymous
Anonymous
Unregistered

Just for arguments sake, but wouldn't holding a cashier's check defeat the purpose of getting a cashier's check unless you suspected fraud?

Return to Top Reply Quote Quick Reply Quick Quote
#2186578 - 07/24/18 01:53 PM Re: Holding a Cashier's Checks Anonymous
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,231
Galveston, TX
Who's argument - the law allows it.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top Reply Quote Quick Reply Quick Quote
#2186652 - 07/24/18 06:58 PM Re: Holding a Cashier's Checks Anonymous
MNCompliance Offline
New Poster
Joined: May 2018
Posts: 14
If the customer meets the definition of a repeat overdrafts, you can place a hold on the cashier's check. Also, if the customer's account meets the definition of a new account, you can hold the amount over $5,000.

Return to Top Reply Quote Quick Reply Quick Quote
Quick Reply:
HTML is disabled
UBBCode is enabled




Moderator:  MagicCity, P*Q, Truffle Royale